"Open Water 3: Cage Dive" is a fictional film and part of the "Open Water" series. While it draws on real-life experiences of shark cage diving, the specific events and characters in the movie are not based on actual incidents. The film depicts a group of friends who go cage diving but encounter a terrifying situation involving sharks. It's important to note that while cage diving is a real activity, the dramatic elements of the movie are exaggerated for entertainment purposes.

"Open Water 3: Cage Dive" received mixed reviews from critics. Some praised its suspenseful atmosphere and realistic portrayal of fear and survival in a shark-infested environment. However, many criticized the film for its predictable plot and lack of character development. The found-footage style was noted to be effective for immersion, but some felt it detracted from the overall storytelling. Overall, while it appealed to fans of the genre, it did not achieve the acclaim of its predecessors.

In "Open Water 3: Cage Dive," the story ends tragically as the group, after a harrowing experience with sharks while in a diving cage, faces dire circumstances. The main characters, initially hopeful for rescue, find themselves stranded in the ocean after the cage is compromised. As their situation worsens, the film concludes ambiguously with one character, Jeff, being attacked by a shark, leaving the fate of the others uncertain. The ending emphasizes the horror of isolation and the unpredictability of nature.

The "Open Water" series, including "Open Water 3: Cage Dive," is inspired by real-life events but is largely fictional. The original film, "Open Water" (2003), was based on the true story of Tom and Eileen Lonergan, who were accidentally left behind during a diving trip in Australia in 1998. However, subsequent films, including "Cage Dive," introduce fictional elements and characters. While they draw on the themes of isolation and survival in open water, they are not direct retellings of true stories.